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Serica Energy has entered an agreement to acquire BHP Billiton Petroleum Great Britain’s (BHP) interests in the Bruce and Keith fields, as well as infrastructure in the North Sea, UK.

The transaction will provide Serica with a 16% stake in the Bruce field and a 31.83% stake in the Keith field.

Serica will make an initial payment of £1m ($1.13m) to BHP, which is eligible to get a part of pre-tax net cash flow from its assets, as part of a net cash flow sharing arrangement.

The deal follows Serica’s acquisition of a 36% stake in Bruce, a 34.83% stake in Keith, and a 50% interest in Rhum field from BP in November 2017. Serica Energy subsidiary Serica UK also agreed to buy a 42.25% stake in the Bruce field and a 25% stake in the Keith field from Total E&P UK in August 2018.

Along with the previous transactions,  the deal is expected to increase Serica’s 2P reserves to approximately 62.7 million barrels of oil-equivalent. It will establish Serica as one of the leading independent offshore operators and producers in the North Sea.

Serica is a UK-based independent upstream oil and gas company, while BHP is an Australia-based resources company, which extracts and processes minerals, oil and gas.

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By GlobalData

Jumbo Offshore has signed an agreement with TechnipFMC for providing transportation and installation services at the Leviathan gas field development located in the Mediterranean Sea, offshore Israel.

The contract will support a project being prepared by TechnipFMC to develop a subsea production system for connecting subsea wells to a fixed platform located 10km off the coast of Israel.

“The deal is expected to increase Serica’s 2P reserves to approximately 62.7 million barrels of oil-equivalent.”

The contractual scope includes the installation of a 410t subsea production manifold in water depths up to 1,643m, as well as several other subsea isolation valves (SSIVs) and valve skids at depth of 86m. It also covers project management and engineering services.

Jumbo Offshore will employ its offshore heavy-lift crane vessels (HLCVs) to carry out the project, which is expected to be completed in early-2019.

The project partners also include Noble Energy, Avner Oil and Gas, Delek Drilling, and Ratio Oil Exploration.

Based in the Netherlands, Jumbo Offshore provides heavy-lift shipping and offshore transportation and installation services, while TechnipFMC is a UK-based company that provides services for the energy industry.

Petrobras has awarded an engineering, procurement, construction and installation (EPCI) contract worth between $50m and $250m to McDermott International for the Rota 3 rigid pipeline project in Brazil.

The contract will see McDermott implementing the ultra-shallow segment of the new Rota 3 gas export pipeline, which is a part of Petrobras’ Santos basin pre-salt gas offloading and transportation system.

McDermott will install the third subsea segment of the pipeline, which connects the offshore segment to the onshore segment at Maricá City. The scope of work includes design, engineering, procurement, construction, and installation of six miles (9.65km) of a 24in diameter rigid concrete-coated pipeline, horizontal directional drill, tie-in spools, as well as pre-commissioning of the pipeline.

McDermott is a US-based engineering, procurement, construction and installation company, while Petrobras is a Brazilian oil and gas company.